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Wall Street Reform

My Views on Wall Street and Our Broken Political Process

Reshma Saujani | Posted 05.25.2011 | New York
Reshma Saujani

The Washington Post has published a front-page story calling me an "Ivy-educated, Wall Street veteran" who is "embracing Wall Street." Let me set the record straight.

SIMON JOHNSON The Kanjorski Surprise - Now It Gets Interesting

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The bank lobbyists, it turns out, missed one. They and their congressional allies were able to gut the Volcker Rule, the Lincoln Amendment, and almost everything else that could have had an effect on the industry.

Shahien Nasiripour

Mutual Fund To No Longer Invest In 'Too Big To Fail' Banks | Shahien Nasiripour | Posted 05.25.2011 | Business

A top-ranked mutual fund will no longer invest in "Too Big To Fail" banks, announcing Thursday it would extend a prohibition already in place against ...

The Strange Politics of Class in America

David Callahan | Posted 05.25.2011 | Politics
David Callahan

It is hard to recall examples like financial and health care reform in which the legislative battle lines were drawn in such sharp contrast to what voters' pocketbook concerns might logically dictate.

Don't Let Goldman Sachs Off the Hook

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

We want Fed money to be fueling business and consumer lending -- we don't want it to be encouraging gambling in the securities and derivatives casinos.

Congress Goes to Bat for Wall Street

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

No matter what else is ultimately enacted in the name of Wall Street reform, Congress decided last night that it will not confront the single greatest problem in the U.S. economy: Too Big To Fail.

Arthur Delaney

Fed Audit Compromise Amendment Praised By Fed Critics | Arthur Delaney | Posted 05.25.2011 | Politics

A trio of prominent economists said in an email to HuffPost on Friday that the compromised version of an amendment to audit the Federal Reserve would ...

Friday Talking Points [122] -- Bikini Bottom Update

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

Since it's the Friday after month's-end, the new monthly unemployment numbers were released today. Which adds another bar to the "bikini bottom" char...

Shahien Nasiripour

Geithner Admits Regulatory Failures, Reiterates Support For Empowering Regulators | Shahien Nasiripour | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner and the Federal Reserve's longest-serving top official reiterated their calls Thursday to rein in the nation's fin...

Close the Revolving Door

Sen. Michael Bennet | Posted 05.25.2011 | Denver
Sen. Michael Bennet

A voter recently asked me: "Where's my lobbyist?" And she's right -- this broken system is allowing the voices of millions of Coloradans and people across the country to be drowned out by special interest lobbyists.

Shahien Nasiripour

Former Fed Chairman Volcker Opposes Forcing Banks To Spin Off Swaps Desks | Shahien Nasiripour | Posted 05.25.2011 | Business

The establishment is lining up against Blanche Lincoln. As chairman of the Senate Agriculture Committee, the Arkansas senator authored a bipartisan b...

Ryan Grim

Wall Street Reform: Progressive Dems Glimpse Victory | Ryan Grim | Posted 05.25.2011 | Politics

For the first time since the Great Depression, Congress has Wall Street on the defensive. One setback after another has beset the financial titans acc...

Brown-Kaufman Amendment: The State Of Play

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

The supporters of big banks will go down hard in November and in 2012; there are no secrets over this kind of time frame. But by then it will be too late for this cycle of financial reform.

Shahien Nasiripour

Hank Paulson's Wall Street Reform Proposals Stronger Than Pending Senate Bill | Shahien Nasiripour | Posted 05.25.2011 | Business

Former Treasury Secretary Henry Paulson outlined a number of "suggestions" Thursday to fix the nation's broken financial system and the outdated regul...

Ryan Grim

Harry Reid: GOP 'Making Love To Wall Street' | Ryan Grim | Posted 05.25.2011 | Politics

Harry Reid has always had a way of turning a phrase. On Wednesday afternoon, he turned his talents to a description of the GOP's relationship with Wal...

Author Of Wall St. Class Warfare Email Responds, Calls Financial Reform 'A Lobotomy'

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Last week, we passed along this angry email from a financial professional that was reportedly making the rounds on Wall Street. According to FT Alp...

Ryan Grim

Dodd: We Have A Deal On 'Too Big To Fail' Banks | Ryan Grim | Posted 05.25.2011 | Business

Lead Senate negotiators have reached a deal on the portion of the Wall Street reform bill that deals with banks considered "too big to fail", Sen. Chr...

J.P. Morgan Still Hates the Economy

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.

Fake Debate: The Senate Will Not Vote On Big Banks

The Baseline Scenario | Simon Johnson | Posted 05.25.2011 | Business

A real debate, in the modern American system, needs a vote on something specific - in this case, an amendment to the main legislation. And Senator Ka...

Shahien Nasiripour

JPMorgan Chase Memo Sneers At 'Ignorant' Senators, 'Time For The Grownups To Step In' | Shahien Nasiripour | Posted 05.25.2011 | Business

A top executive at JPMorgan Chase told clients Monday that senators displayed "an unnerving ignorance of fundamental principles of market economics" d...

Financial Reform: Lobbyists Fret, Call Some Proposals 'Crazy' 'Draconian,' 'Insanely Unproductive' | Brady Dennis | Posted 05.25.2011 | Business

Some industry lobbyists, bracing for significant setbacks in the Senate, already are pinning their hopes on the House-Senate conference process, where...

Rick's Casino - The 2010 Version, That Is

Leo Hindery, Jr. | Posted 05.25.2011 | Business
Leo Hindery, Jr.

If Citigroup is the 'poster child' for all that went wrong in the commercial banking side of the financial industry since 1999, then, Goldman Sachs is, the 'poster child' for the investment banking side.

Ryan Grim

Harry Reid Pushing For Majority Vote On Wall Street Reform | Ryan Grim | Posted 05.25.2011 | Politics

A simple majority of the Senate will be all that is required to adopt an amendment to Wall Street reform, if Majority Leader Harry Reid (D-Nev.) gets ...

Shahien Nasiripour

Apple, Whirlpool Among Companies Calling For Relaxed Standards For Wall Street | Shahien Nasiripour | Posted 05.25.2011 | Business

Household names like Apple, Caterpillar and Whirlpool are part of a coalition of companies lobbying Congress to allow Wall Street to escape tough new ...

I Know Whose Moral Compass I Want in Front of Me

Peter Samuelson | Posted 05.25.2011 | Business
Peter Samuelson

An email circulated widely on Wall Street demonstrates that Gordon Gekko is alive and well, and that an unregulated market is actually a market mostly free for greed itself.